• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 30 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Sri Lanka to increase casino collection levy, entry fee for locals under critical 2025 budget

Newsdesk by Newsdesk
Wed 19 Feb 2025 at 04:56
Sri Lanka approves free visas for visitors from seven countries in bid to boost tourism, revive economy
23
SHARES
584
VIEWS
Print Friendly, PDF & Email

The Sri Lankan government has announced an increase in the gross collection levy it charges licensed casinos from 15% to 18%, while the entrance fee for locals will double from US$50 to US$100 under the 2025 budget announced Monday.

The budget is a crucial one for Sri Lanka and its President Anura Kumara Dissanayake as the nation looks to crawl out from the financial crisis that has engulfed it in recent years, culminating in an international debt default in 2022.

Sri Lanka was thrown a US$2.9 billion lifeline by the International Monetary Fund (IMF) with the 2025 budget designed to follow IMF guidance around GDP growth.

As reported by Reuters, Dissanayake said the budget had been prepared with a “focused sense of fiscal discipline, economic vision and guidance.”

“While we recognise the role played by the IMF … in stabilizing the economy, we are also of the view that in order to design our economic agenda, achieving economic sovereignty is necessary,” he said.

The increase in casino levies is one of a raft of tax and levy increases across multiple verticals, including tobacco and alcohol corporate taxes, an expansion of the application of stamp duty and an increase in capital gains tax for individuals from 10% to 15%.

It had at one stage last year been proposed that the casino entrance fee be raised to as much as US$200 alongside changes to license fees but it appears calmer heads prevailed.

As reported by IAG, casino license fees were increased a year ago as part of Sri Lanka’s efforts to establish a formal gaming regulator, tasked with overseeing casino tax collection, and countering criminal activity and negative societal impacts from the industry.

Sri Lanka is currently home to six legal casinos: Bally’s, Bellagio, Casino Marina, Stardust, Continental Club and The Ritz Club.

Two more casinos are confirmed to be in the works, with Melco Resorts & Entertainment currently fitting out a casino space at Colombo’s Cinnamon Life while another called Majestic Pride Casino – a partnership between Golden Island Hospitality Ltd and India-based Majestic Group Hotels and Casinos – is set to launch in Colombo Lotus Tower.

RelatedPosts

Galaxy, Melco and Wynn to attend major media event “Thai Entertainment Complex Roundtable” alongside Thai voices opposing entertainment complex industry

Galaxy, Melco and Wynn to attend major media event “Thai Entertainment Complex Roundtable” alongside Thai voices opposing entertainment complex industry

Wed 28 May 2025 at 06:58
Kangwon Land GGR up 3.8% year-on-year on higher VIP play

Kangwon Land to support local SMEs in entering global slot machines and gaming technology market

Wed 28 May 2025 at 06:09
Mass gaming segment drives sequential revenue growth for Korea’s Kangwon Land in 3Q24

Kangwon Land granted permission to increase minimum bets on blackjack and poker

Wed 21 May 2025 at 05:52
Wynn Resorts drops plan to pursue New York casino license

Wynn Resorts drops plan to pursue New York casino license

Tue 20 May 2025 at 04:12
Load More
Tags: casinoEntry feelevySri Lanka
Share9Share2
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Robert Goldstein to step aside as LVS Chairman and CEO from March 2026, replaced by Patrick Dumont

Robert Goldstein: Macau gaming market challenged by increased competition, online gambling and US-Sino trade war

by Ben Blaschke
Fri 30 May 2025 at 06:42

Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the...

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

Industry hopes Thai Entertainment Complex Roundtable can establish “common ground” with those opposing legal casinos

by Ben Blaschke
Fri 30 May 2025 at 05:38

Industry figures taking part in the Thai Entertainment Complex Roundtable (TECR) next Thursday 5 June hope to find common ground with those who oppose Thailand’s Entertainment Complex Bill, citing the opportunity to use an evidence-based approach to achieve outcomes that...

Genting Malaysia misses 4Q24 estimates, slashes dividends as rising costs hurt profitability

Genting Malaysia reports US$613 million in Q1 revenue, impacted by lower VIP at Resorts World Genting

by Ben Blaschke
Fri 30 May 2025 at 05:23

Genting Malaysia reported a 6% decline in group-wide revenue to MYR2.60 billion (US$613 million) in the three months to 31 March 2025, including a 7% drop in revenue at flagship Malaysian property Resorts World Genting (RWG) to MYR1.62 billion (US$382...

Macau’s hotel occupancy rate reaches 89% in July

Macau’s hotel occupancy rate climbed to 87.8% in April

by Pierce Chan
Thu 29 May 2025 at 17:27

Macau’s average hotel occupancy rate rose by 4.7 percentage points year-on-year to 87.8% in April, with the number of guests increasing by 3.4% to 1.2 million. According to data from the Statistics and Census Service (DSEC), there were 147 hotel...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English